SKY GOLD AND DIAMONDS LIMITED (SKYGOLD) 22 days ago

Sky Gold and Diamonds Limited has acquired 100% of Ganna N Gold Private Limited, a Mumbai-based speciality gold bangles manufacturing company, for Rs. 225 crore through a 100% share swap. The acquisition will enable Sky Gold and Diamonds to foray into manufacturing of machine-made and handmade bangles, enhancing its product profile and servicing its strong customer base. The company expects the acquisition to improve profitability on a consolidated basis due to Ganna N Gold's existing income tax exemption status under section 115BAB.